Mitsubishi UFJ Trust & Banking Corp Sells 36,159 Shares of Lennar Corporation $LEN

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Lennar Corporation (NYSE:LEN) by 12.5% in the second quarter, Holdings Channel reports. The fund owned 252,523 shares of the construction company’s stock after selling 36,159 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Lennar were worth $27,932,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of Lennar by 77.7% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,649 shares of the construction company’s stock worth $419,000 after buying an additional 1,596 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lennar by 199.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 31,187 shares of the construction company’s stock worth $3,580,000 after acquiring an additional 20,787 shares in the last quarter. Allstate Corp grew its position in Lennar by 62.4% during the 1st quarter. Allstate Corp now owns 11,711 shares of the construction company’s stock worth $1,344,000 after acquiring an additional 4,500 shares during the last quarter. Circle Wealth Management LLC acquired a new stake in Lennar during the 1st quarter valued at $462,000. Finally, Voss Capital LP acquired a new position in Lennar in the first quarter worth $1,148,000. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Down 2.2%

Shares of NYSE:LEN opened at $121.35 on Friday. The company has a 50 day moving average of $126.78 and a 200-day moving average of $119.10. Lennar Corporation has a one year low of $98.42 and a one year high of $180.12. The stock has a market cap of $30.95 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 5.78 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.49 and a quick ratio of 0.68.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.14). The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a net margin of 7.72% and a return on equity of 11.09%. Lennar’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.90 earnings per share. On average, sell-side analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, October 10th. Lennar’s dividend payout ratio is currently 19.76%.

Wall Street Analysts Forecast Growth

LEN has been the subject of a number of research reports. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wedbush restated a “neutral” rating and issued a $130.00 price objective on shares of Lennar in a research report on Monday, September 22nd. JMP Securities upped their target price on shares of Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $121.75.

Lennar Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.